Australia WeTouch Technology (ASX:AWT) to list on ASX

08/28/2017 | 07:25pm

Australia WeTouch Technology Limited (ASX:AWT) Non-Executive Chairman, Peter French, discusses the company's touchscreen products, market size, growing demand and listing.

Australia WeTouch Technology Limited (ASX:AWT) Non-Executive Chairman, Peter French, discusses the company's touchscreen products, market size, growing demand and listing.

Jessica Amir: Hello I’m Jessica Amir for the Finance News Network. Joining me from Australia WeTouch Technology Limited (ASX:AWT) is Non-Executive Chairman, Peter French. Peter, welcome to the Finance News Network.

Peter French: Thanks, it’s a pleasure to be here.

Jessica Amir: First up, for those not familiar with the company, can you give us an introduction?

Peter French: WeTouch is based in China primarily and it’s on a large manufacturing facility in China. And in three years, it’s grown spectacularly in terms of its sales and its revenue, and its capacity.

WeTouch is a specialist in manufacturing touchscreen technology, you know the technology that interfaces between humans and computers. So it really is the fastest growing technology in the world, because there are so many applications for it.

Jessica Amir: Thanks Peter. So now can you tell us about Australia WeTouch technology?

Peter French: Australia WeTouch technology is WeTouch’s company that will list in Australia, to use Australia as a foundation, in which to take its products to the western world.

We know that there is a global market for these products, because WeTouch in China has been very successful in gaining customers in China, with global reach customers like Siemens Limited (NSE:SIEMENS), Schneider Electric (EPA:SU) and Canon Inc. (NYSE:CAJ).

These products are already in the western world and in China in motor vehicles. And Australia WeTouch technology will use the manufacturing experience and products made by WeTouch in China, to develop a local market and use that experience to go into the global western market.

Jessica Amir: Now can you tell us more about your products?

Peter French: WeTouch technology concentrates on large screen, touchscreen technology. So examples of applications where WeTouch has found significant market interest and penetration, include GPS in motor vehicles, ATMs, industrial applications where there’s high heat and high noise, and high dust. These are areas where WeTouch’s technology can outcompete its competitors.

Jessica Amir: Now to your IPO. How much are you planning to raise and when does the company plan to list?

Peter French: We’ll list on the ASX in mid-September. We aim to raise as a minimum $14 million. And this will be used primarily to expand capacity, manufacturing and importantly, sales and marketing operations in Australia. In addition and excitingly, WeTouch has established a collaboration with the University of New South Wales, to develop the next generation of touchscreen technology.

This is really important, because it will establish WeTouch and Australia WeTouch technology, as preeminent suppliers.

Jessica Amir: So, how do people like me and people watching this get involved?

Peter French: You can go to the WeTouch website, or you can contact the lead broker, AGC Securities. Or you can contact your own local broker.

Jessica Amir: Now to touchscreens and cars, it’s a very new, large fast-growing market. Can you tell us about your strategy for tapping into that?

Peter French: Yes it is, it’s a very fast-growing market and we think that it will be in every car in the future. Therefore, WeTouch’s advantage in terms of our robust technology on a large screen format, has already found several customers, who are also suppliers to automobile manufacturers and so therefore, we expect that this will be a growing market for us. And really we’ve just touched the tip of the iceberg.

Jessica Amir: Last question now. So what’s your long-term ambition for the company?

Peter French: Our long-term ambition for Australia WeTouch technology is to be WeTouch’s marketing arm, to take their products from Australia to the rest of the world. We see enormous potential in large screen, touchscreen technology, combined with the innovation that we’re developing with the University of New South Wales, to make WeTouch and Australian WeTouch technology preeminent suppliers of touchscreens, for the next generation products.

Jessica Amir: Peter French, thank you so much for the update and good luck with the listing.

Peter French: Thank you Jessica.

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